Lexington, Milam County, Texas Property Taxes
Median Lexington, TX effective property tax rate: 0.53%, significantly lower than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Lexington, TX home value: $558,370
Median annual Lexington, TX tax bill: $3,283, $883 higher than the national median property tax bill of $2,400.
How are property taxes in Milam calculated?
Property taxes in Lexington, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Lexington’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lexington, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lexington, Milam County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.53%
Estimate Property Tax Bill
$2,959
$2,746
Property Tax Rates Across Lexington, Milam County, Texas
Local government entities set tax rates, which can vary widely within a state. This variance occurs because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Lexington, located in Milam County, Texas, the effective property tax rate is 0.53%. This rate is significantly lower than the national median property tax rate of 1.02%. The median property tax rate in Texas is also 0.53%, which aligns with Lexington's rate. When compared to the national median property tax bill of $2400, property owners in Lexington benefit from more affordable property taxes. This lower tax burden can make Lexington an attractive option for property buyers seeking cost-effective living. Understanding these differences in property tax rates can help potential homeowners make informed decisions about where to invest in real estate.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lexington Tax Rate
0.53%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Milam County Tax Rate
1.45%
Median Effective Texas Tax Rate
1.67%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lexington, Milam County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78947 | 0.15% | 0.44% | 0.53% | 0.90% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Lexington, Milam County, Texas
When examining property taxes in Lexington, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Milam County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Milam County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lexington.
For example, the median home price in Lexington is $558,370, with tax bills ranging significantly across the county. Zip code 78947 has the highest median home price at $558,370.
Property Tax Assessment Values Across Lexington, Milam County, Texas
Source: Ownwell
$84,220
$321,295
$558,370
Median Lexington Market Value
$558,370
Median Milam County Market Value
$146,970
Median Texas Market Value
$247,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lexington, Milam County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78947 | $193,030 | $353,310 | $558,370 | $839,500 | $1,138,790 |
Source: Ownwell
Property Tax Bills Across Lexington, Milam County, Texas
Median Lexington Tax Bill
$3,283
Median Milam County Tax Bill
$1,812
Median Texas Tax Bill
$3,971
Median United States Tax Bill
$2,400
Property Tax Bills Across Lexington, Milam County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78947 | $792 | $1,881 | $3,283 | $4,807 | $5,459 |
Source: Ownwell
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Milam Appraisal District | |
| Website | esearch.milamad.org |